SINGAPORE, April 20 (Reuters) - Oversea-Chinese Banking
Corp (OCBC.SI), the smallest of Singapore's three banks, may be
in investors' focus on Monday after its chairman said the bank
did not need to raise funds to tide it through the recession.
U.S. stocks rose on Friday, with the Dow scoring its
biggest six-week gain since July 1938, helped by a reassuring
report on the mood of consumers and stabilisation in General
Electric (GE.N) and Citigroup's (C.N) quarterly results.
----------------------MARKET SNAPSHOT @ 2345 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P
500 .SPX 869.6 0.5% 4.300
USD/JPY JPY= 99.38 0.22% 0.220
10-YR US TSY YLD US10YT=RR 2.9395 -- -0.015
SPOT GOLD XAU= 868.25 0.04% 0.350
US CRUDE CLc1 50.24 -0.18% -0.090
DOW JONES .DJI 8131.33 0.07% 5.90
ASIA ADRS .BKAS 99.56 0.42% 0.42
-------------------------------------------------------------
> Earnings deluge may stall rally [.N] >
Dollar gains vs most majors, euro slumps on ECB [USD/] >
Bonds tumble in absence of safe-haven buying [US/] >
Gold drops on weak ETF demand, less fear [GOL/] >
Crude steady above $50 on demand recovery hopes [O/R]
Stocks and factors to watch:
-- OVERSEA-CHINESE BANKING CORP (OCBC.SI)
- Oversea-Chinese Banking Corp, the smallest of Singapore's
three banks, does not need to raise extra funds to prop up its
books in the face of the recession, Chairman Cheong Choong Kong
was quoted by Singapore media as saying. [ID:nSIN390070]
-- SINGAPORE AIRLINES (SIAL.SI)
- Macquarie Research slashed its price target for Singapore
Airlines to S$8.12 from S$10.07 and kept its "underperform"
rating, citing the deteriorating demand for air travel.
-- COSCO CORP (COSC.SI)
- China's COSCO Group, the parent company of
Singapore-listed shipbuilder Cosco Corp (Singapore), said its
business is looking up as a recovering Chinese economy will
help boost trade and international freight prices.
[ID:nPEK78826]
-- SINGAPORE EXCHANGE (SGXL.SI)
- Singapore Exchange said on Friday it will launch the
world's first cleared over-the-counter iron ore swaps contract,
moving the massive market a small step closer to floating
prices. [ID:nSP154767]
-- ASCENDAS REIT (AEMN.SI)
- Ascendas REIT said its fourth quarter distribution per
unit fell 12.5 percent to 3.23 cents compared to last year due
to dilution by new units and because of the cash payment of
full-year performance fees. [ID:nSN4H10701]
-- GUOCOLAND LIMITED (GUOC.SI)
- Property firm Guocoland said its third-quarter net profit
rose 91 percent to S$4.9 million ($3.3 million) compared to
last year mainly due to sales at its Singapore unit, The
Quartz. [ID:nSN4H31091]
-- CAPITARETAIL CHINA TRUST (CRCT.SI)
- Singapore-based REIT CapitaRetail China Trust said its
first-quarter distribution per unit increased by 38.1 percent
compared to last year due to a rise in the yuan against the
Singapore dollar, the acquisition of Xizhimen Mall and higher
rentals at three other malls. [ID:nSN4H50912]
-- SINGAPORE TECHNOLOGIES ENGINEERING (STEG.SI)
- ST Engineering, the world's largest aircraft repair firm,
said its ST Kinetics units had collaborated with Mexico's Grupo
Ferrominero to set up a joint venture, GFM Maquinaria, in
Monterrey, Mexico. [ID:nSN4H80591]
- Singapore Technologies Telemedia has offered around 100
million euros ($130 million) for Babcock & Brown Capital
BCM.AX, the Irish Independent newspaper reported on Saturday.
[ID:nLI70691]
-- SINGAPORE AIRPORT TERMINAL SERVICES LTD (SIAT.SI)
- The airport services provider said on Friday it had
completed the compulsory acquisition of all the remaining
shares in the capital of Singapore Food Industries.
[ID:nSN4H61511]
-- C&G INDUSTRIAL HOLDINGS LTD (CGTE.SI)
- China based C&G Industrial, which manufactures yarn and
polyester products, said it plans to acquire waste incineration
power plant, CUGU Environmental Protection International, for
359 million ($53 million) from CUGU Group (Hong Kong) Ltd.
[ID:nSN4G61231]
-- ARMARDA GROUP LIMITED (ARMA.SI), CHINA YONGSHENG LIMITED
(CHYL.SI), EXCELPOINT TECHNOLOGY LTD (EXCE.SI)
- Armanda Group, China Yongsheng and Excelpoint Technology
Ltd said they expect to report a loss for their first quarter
results that ended on 31 March due to the global economic
slowdown. [ID:nSN4H50661] [ID:nSN4H01151] [ID:nSN4H30720]
-- SIN GHEE HUAT (SGHC.SI)
- Sin Ghee Huat said it expects a third-quarter loss due to
lower demand for stainless steel products. [ID:nSN4H90681]
-- NEW WAVE HOLDINGS (NEWW.SI), CPH LTD (CIPH.SI)
- New Wave Holdings and CPH Ltd said they expect to report
a full-year net loss for the year to the end of March due to
the economic crisis. [ID:nSN4H91341] [ID:nSN4H51301]
- Singapore's benchmark Straits Times Index .FTSTI rose
0.25 percent to 1,896.56 points on Friday.
- The Dow Jones Industrial Average .DJI gained 0.07
percent to 8,131.33 points. The Nasdaq Composite Index .IXIC
was up by 0.16 percent to 1,673.07 points.
(Reporting by Laurence Tan; Editing by Jan Dahinten)
